Here I will summarise the schemes that exist
for what might be called the more popular countries — the big league.
They are, in alphabetical order, Australia, Canada, New Zealand, the UK
and the US. I will add one comparable country — Italy. I will also
add Monaco and Switzerland — not because they are likely to have
any particularly widespread appeal, except among the really rich, but
they deserve mention, and belong more among the more established countries
than with some of the others mentioned in this Report. I will also include
Brazil, although it could be appropriate to include Brazil in the chapter
on central and south America.
In Appendix II you will find a checklist of major categories leading
to permanent residence and citizenship of these countries.
Australia: $A 150,000+
The Australian government aims to increase employment, bring new technology
and new skills into Australia, and increase its exports. Applicants
must have a track record as successful businessmen, with funds for investment
of at least $A150,000 (this amount being described as the bare minimum).
The application is processed through Canberra, but the final seal of
approval comes from the state government concerned. Once the business
proposal has been approved the applicant must go through the normal
immigration procedures.
The Australian government assumes that the outline business plan proposed
by an applicant with a successful business record and adequate funds
does not require detailed scrutiny.
Investment in land or property in association with development (but
not mere investment, which might well be a safer proposition) is regarded
as a suitable investment for an applicant under the Australian program.
The Australian plan is divided into two categories, the amount of the
investment being the deciding factor:
Category #1 — $A500,000+. It is assumed that anyone
with $A500,000+ to invest in Australia is big enough to look after himself,
and he is not required to submit a detailed business plan, just an outline.
Category #2 — $A150,000+. An applicant in this
class will undergo more scrutiny, especially as to the kind of business
he wants to establish. The figure of $A150,000 is indicative only, and
he may be told that it is not enough. There was a requirement that an
Australian partner be taken in by an applicant in this category, but this
may have been modified in line with relaxations of rules governing inward
direct investment.
In all cases, active participation by the applicant is required, particularly
in category #2. An applicant must give evidence of his net worth and
show sufficient funds to cover resettlement expenses. and (category
#2) to cover living expenses.
It has been taking up to nine months for Australia to process business
migration applications, but in December 1987 the government announced
that it would farm out some of the work to consultants — lawyers,
accountants, bankers and the like — and hope to reduce the processing
period to one month. At the same time, by segregating these consultants.
who will be “accredited,” from those who are not accredited,
the government hopes to weed out some of the people who have been charging
overly-high fees in exchange for doubtful service.
Australia also has a program for people in retirement. If you are at
least 55 years old, and can take with you assets sufficient to enable
you to establish a home and provide adequately for your future without
needing or intending to work) then you are welcome. You must show at
least $A500,000, or $A150,000 plus a guaranteed annual income of $A35,000
for a married couple ($A30,000 if you are single).
As indicated earlier, Australia will also accept people with what it
regards as needed skills, certain relatives of Australian citizens,
and a limited number of refugees.
Canada: $C150,000
The basic criterion for a Canadian investment/business application
is whether the proposal will create jobs for Canadians.
The investment required — $C150,000 (an indicated minimum) —
and the number of jobs to be created or preserved (as a rule of thumb,
six, although even one new job — yours, in the “self-employed”
category, could qualify) makes Canada one of the less expensive countries
for citizenship via this route.
The business proposal must be approved by provincial and/or local authorities.
Vancouver might reject another Chinese restaurant, but a smaller town
might well have no objection. The key to success with your application
is:
select a town which will welcome your particular proposal,
or,
if you have a preference for a particular place. find out what
kinds of business projects will be approved and see whether you can
formulate a proposal to suit.
Canada also entertains applications from investor migrants. The criteria
are a strong, proven track record as a successful business person, a
net worth of at least $C500,000, and a proposed investment in Canada
(in a project approved by the provincial government as being of significant
benefit to the provincial economy) of at least $C250,000, to be maintained
for at least three years.
Canada too will accept persons over the age of 55, able to support
themselves, and with no need or intention to work in Canada. There is
no set figure for them to show as their resources apart from these requirements.
People with offers of employment, scoring the requisite number of points,
similar to the Australian system, and possessing one of the skills regarded
as needed, may also be accepted for immigration into Canada, as may certain
relatives of permanent residents or citizens of Canada, and of course
a limited number of refugees. /continued...
Reminder: This edition of How To Get A Second Passport was published
in 1990. Check the useful
links page for updated information.
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